Amer Sports, Inc. (AS) fair value: what the stock is really worth
As of Nov 4, 2026: fair value (intrinsic value) of Amer Sports, Inc. stock $19.17, price $32.05, that is 40.2% below the price, quality 57 out of 100. Rating: strongly overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
33‑month range $10.47 – $41.96 · fair‑value band $11.84 – $28.94 · the $32.05 price screens above the $19.17 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Amer Sports, Inc. designs, manufactures, markets, distributes, and sells sports equipment, apparel, footwear, and accessories in Europe, the Middle East, Africa, the Americas, Mainland China, Hong Kong, Macau, Taiwan, and the Asia Pacific.
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It operates through three segments: Technical Apparel, Outdoor Performance, and Ball & Racquet Sports. The Technical Apparel segment offers outdoor apparel, footwear, and accessories, which include climbing gear.
The Outdoor Performance segment provides hiking and running footwear, functional apparel, skiing and snowboarding gear, and lifestyle footwear products.
The Ball & Racquet Sports segment offers sports equipment for tennis, baseball, American football, basketball, golf, and various other professional and recreational sports, as well as functional athletic apparel.
This segment provides custom-fitting protective gear and apparel for baseball, softball, football, and lacrosse. The company sells its products under the Arc'teryx, PeakPerformance, Salomon, Atomic, Armada, Wilson, Louisville Slugger, DeMarini, EvoShield, and Atec brands.
It distributes its products through retail stores, general sporting goods retailers, specialty stores, independently operated partner stores, and distributors, as well as retailer-owned and third-party e-commerce websites.
The company was formerly known as Amer Sports Management Holding (Cayman) Limited and changed its name to Amer Sports, Inc. in August 2023. Amer Sports, Inc. was founded in 1950 and is based in Helsinki, Finland.
Stock analysis
Amer Sports, Inc. (AS) currently trades at $32.05, while our model-based Fair Value estimate is $19.17, 40% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $22.87 per share, and 1 of the 24 models we run sit above the $32.05 price.
Bear case: the Economic Profit group reads lowest at $7.14, and 23 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $11.84 (bear) to $28.94 (bull), the price of $32.05 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 57/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Amer Sports, Inc. reported revenue of $6.6B in FY2025 versus $3.1B in FY2021, a compound +21.0%/yr. Reported net income was $427M in FY2025.
Key figures
Market cap $18.9B Large · P/E ratio 33.7 · P/S ratio 2.54 · EPS (TTM) $0.9500 · Net margin 7.4% · Return on equity 9.2% · Return on assets (EBIT) 3.9% · Operating margin 7.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (medium confidence).
What moves the price
The share trades about 24% below its 52-week high and 22% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 14% fair-value upside, at −40%, AS screens richer than that median.
Fair Value models
Bear$11.84Fair Value $19.17Bull$28.94
Price $32.05 · Downside -40.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then ($0.9500 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
SaleStuart HaseldenCEO of Arc'teryx Equipment3× since Apr 2, 2026: 233,224 shares, avg. $35.54$8.3MJun 1, 2026
SaleJutta C KarlssonGeneral Counsel2× since Apr 2, 2026: 1,119 shares, avg. $35.04$39,213Apr 16, 2026
Plus 9 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+26.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+21.8%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
5.1% (2020) → 10.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+26.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+15.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +23.7% a year for the price and +12.4% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (98 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Arc’teryx and Salomon softgoods support revenue growth and margin gains via direct-to-consumer efforts, yet the premium focus creates heavy dependence on affluent discretionary spending.
Main risk: Larger competitors such as Nike and adidas with greater resources or fast-fashion entrants might capture customers in the premium outdoor and sports segments or pressure prices and margins through broader offerings and marketing.
Bull case: By deepening innovation and DTC channels the company could strengthen its premium brands against rivals while adapting sourcing to mitigate tariff impacts and sustain margin gains.
Bear case: If competitors erode share or tariffs sharply raise costs the company might face slower revenue growth, compressed margins and challenges scaling its Arc'teryx and Salomon softgoods push amid weaker consumer spending.
Amer Sports keeps pointing to Arc’teryx and Salomon softgoods as the main drivers for steady revenue growth and margin gains through its direct-to-consumer push. That premium focus has produced repeated beats, yet it also ties performance tightly to spending by affluent buyers in a discretionary sector. Will the push into these brands deliver more upside than any pullback in consumer confidence takes away?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Leisure · 167 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside−40.2% · Below median
Profitability
Return on equity (12 months)9.2% · Above median
Return on assets4.3% · Above median
Net margin (12 months)7.4% · Above median
Operating margin (12 months)7.9% · Below median
Growth and dividend
Revenue growth (quarter YoY)32.1% · Top 25%
Balance sheet
Debt / equity0.14× · Above median
Valuation Multiplesvs Leisure median · lower = cheaper
P/E (12 months)33.7× · Priciest 25%
P/B3.25× · Priciest 25%
P/S (12 months)2.54× · Pricier than median
Price / free cash flow37.5× · Priciest 25%
EV/EBITDA15.7× · Pricier than median
PEG0.44× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 40
FUTURE (revenue growth)100· sector 27
PAST (return on equity)37· sector 25
HEALTH (low debt)93· sector 94
DIVIDEND (yield)0· sector 52
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Amer Sports, Inc. Fair Value". https://www.fairvalue-calculator.com/stock/AS
Frequently asked questions
Is Amer Sports, Inc. (AS) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of $19.17 versus a price of $32.05, about 40% lower (overvalued).
What is the fair value of AS?
Our model-based fair value for Amer Sports, Inc. is $19.17 (as of Nov 5, 2026), built from audited fundamentals. The current price: $32.05.
What is the quality score of AS?
Amer Sports, Inc. has a Quality Score of 57/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Amer Sports, Inc. (AS)?
Our model-based price target is the fair value of $19.17 (as of Nov 5, 2026) from 24 valuation models. Cautious scenario $11.84, optimistic scenario $28.94. It is a calculation from audited fundamentals, not an analyst target.
What is the Amer Sports, Inc. stock forecast for 2026?
Our models put fair value at $19.17, about 40% lower versus a price of $32.05 (overvalued). Cautious scenario $11.84, optimistic scenario $28.94. The calculation is refreshed regularly with new filings.
What is the revenue of Amer Sports, Inc. (AS)?
Amer Sports, Inc. reported trailing-twelve-month revenue of about $7.4B (latest available figure, as of Nov 5, 2026).
What growth is priced into Amer Sports, Inc. (AS)?
For today's price to be fair in a discounted-cash-flow model, Amer Sports, Inc. would have to grow free cash flow by +26.6 % per year for five years (discount rate 11.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +21.8 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of AS use?
Our models discount Amer Sports, Inc. at 11.5 %: a base by market capitalisation (large), damped by beta 2.03, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Amer Sports, Inc. that is +26.6 % per year a year over ten years, using the same discount rate (11.5 %) and the same formula as our fair value.
How much growth has Amer Sports, Inc. (AS) delivered so far?
Over the past 5 years revenue at Amer Sports, Inc. grew +21.8 % a year. The price currently implies +26.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Amer Sports, Inc. (AS) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Amer Sports, Inc. (+26.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Amer Sports, Inc. (AS)?
The free-cash-flow yield on the price is 2.67 %: that much free cash flow Amer Sports, Inc. produces per unit of market value. When it exceeds the discount rate of our models (11.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Amer Sports, Inc. (AS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Amer Sports, Inc. it is $19.17 per share (as of Nov 5, 2026), against a price of $32.05. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Amer Sports, Inc. stock overvalued or undervalued in 2026?
As of Nov 5, 2026, AS trades above its calculated fair value: price $32.05, fair value $19.17, a gap of about −40% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of AS?
No. The price is what the market pays today ($32.05); the fair value is what the company's own numbers justify ($19.17). For Amer Sports, Inc. the two are $12.88 per share apart. That gap is exactly why we show both numbers side by side.
How much is Amer Sports, Inc. worth?
The market values Amer Sports, Inc. at about $18.9B (market capitalisation, as of Nov 5, 2026). Per share that is $32.05; our models calculate a fair value of $19.17 per share.
What do the bullish and bearish scenarios say about AS?
Our models span a range for Amer Sports, Inc.: cautious scenario $11.84, base $19.17, optimistic $28.94 per share (as of Nov 5, 2026, price $32.05). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AS?
Amer Sports, Inc. trades at a price-to-earnings ratio of 33.7 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $19.17 is built from several models across several years. Other multiples: PEG 0.4, P/B 3.3, P/S 2.5, EV/EBITDA 15.7.
What is the PEG ratio of AS?
The PEG ratio of Amer Sports, Inc. is 0.44 (P/E divided by earnings growth, as of Nov 5, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Amer Sports, Inc. (AS)?
Balance-sheet figures for Amer Sports, Inc. (as of Nov 5, 2026): return on equity 9.2%, debt of 0.14 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is AS from its 52-week high?
Amer Sports, Inc. trades at $32.05, about 24% below its 52-week high of $41.96 and 22% above the low of $26.27 (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of $19.17 is for.
Which stocks are comparable to Amer Sports, Inc.?
From the same area (Consumer Cyclical) we also value Pop Mart International Group, Hasbro, Inc, Life Time Group, Ninebot Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Amer Sports, Inc. stock attractive at the current price?
The data as of Nov 5, 2026: price $32.05, calculated fair value $19.17 (−40%), Quality Score 57/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of AS calculated?
We run Amer Sports, Inc. through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $19.17, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.0% above its aggregate fair value. Amer Sports, Inc. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Amer Sports, Inc. (AS)?
The closing price on Nov 4, 2026 was $32.05. Our model-based fair value is $19.17, about 40% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Amer Sports, Inc. right now?
The price sits above even our optimistic bull case ($28.94). The favourable scenario is already priced in. Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($11.84 to $28.94) leaves room in how you read the outcome.
Key figures of Amer Sports, Inc.
How large is the market capitalisation of Amer Sports, Inc. (AS)?
The market capitalisation of Amer Sports, Inc. is $18.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Amer Sports, Inc. (AS)?
The price-to-sales ratio of Amer Sports, Inc. is 2.54 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Amer Sports, Inc. (AS)?
Earnings per share at Amer Sports, Inc. are $0.9500 (price ÷ EPS = P/E 33.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Amer Sports, Inc. (AS)?
The net margin of Amer Sports, Inc. is 7.4% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Amer Sports, Inc. (AS)?
The return on equity (ROE) of Amer Sports, Inc. is 9.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Amer Sports, Inc. (AS)?
On an EBIT basis the return on assets of Amer Sports, Inc. is 3.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Amer Sports, Inc. (AS)?
The operating margin of Amer Sports, Inc. is 7.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Amer Sports, Inc. (AS)?
Revenue at Amer Sports, Inc. is growing +32.1% versus a year earlier (3y avg +22.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Amer Sports, Inc. (AS)?
Earnings per share at Amer Sports, Inc. are growing +500% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Amer Sports, Inc. (AS) carry?
The net debt of Amer Sports, Inc. is $1.8B (fiscal year 2025, ≈ 3.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 5, 2026